Fotowatio Renewable Ventures Australia (FRV Australia), a leading solar developer and a subsidiary of Abdul Latif Jameel Energy and OMERS, has further expanded its footprint in New Zealand by securing three new solar sites through a joint venture with Genesis Energy.
Manawatu, Waikato and Hawke's Bay will be the locations of the solar farms on New Zealand's North Island. Once completed, the facilities will have a capacity of 200 MW, 100 MW and 100 MW, respectively. They will supply clean energy sufficient to power approximately 85,000 homes and will contribute to the reduction of 500,000 tonnes of CO2 emissions annually.
The solar farms "form an important part of our strategy aimed at developing sustainable energy solutions as part of our mission to drive the global energy transition towards a cleaner future. We are deeply committed to working with world-class partners to realise our development ambitions in New Zealand following our highly successful ventures in Australia," said Carlo Frigerio, CEO of FRV Australia.
Actually, the collaboration between FRV Australia and Genesis Energy dates back to 2021, when their joint venture set a goal to develop 500 MW of solar projects within five years.
Early this year, the joint venture agreed to acquire the 52-MW Lauriston solar farm in Canterbury City. As of now, the combined capacity has reached 452 MW, and the venture is expected to hit their 500 MW target ahead of time.
Daniel Sagi Vela, CEO of FRV Group, said: "These three new sites are the testament to FRV Group's determination to become the leading developer of solar generation in New Zealand."
"Securing these lands puts us well on track for the realization of our vision to develop 500 MW of solar capacity over the next five years in New Zealand. Alongside our partner Genesis Energy, we are committed to supporting sustainable infrastructure development in New Zealand as part of our global efforts towards a cleaner future for all."